(a) The franchising authority shall have the right to rescind or revoke the rights herein granted upon any violation by the grantee of any material obligation or requirement contained herein, or upon the refusal to comply with any reasonable request made by the Village Board concerning compliance with this chapter, after written notice by the franchising authority to the grantee, and continuation of such violation or refusal to comply by the grantee.
(b) Such written notice to the grantee shall specify precisely the manner in which the grantee is in violation, with respect to the franchise. The notice shall specify a reasonable amount of time within which the grantee must correct the violation, but in no event shall the time period be less than 30 days from the date of receipt of the notice to the grantee.
(c) If the grantee shall be adjudicated bankrupt or placed in receivership, the village may by resolution declare the franchise herein granted to be forfeited and terminated.
(d) The village reserves the right to levy fines upon the grantee in a reasonable amount, not to exceed $50 per violation, for material breaches of the franchise agreement. Failure to pay such fines shall be cause for revocation of the franchise.
(Prior Code, § 9-3-17)